Announcements 2008
Result of General Meeting of Shareholders
22 December 2008
The Board of Brinkley is pleased to announce that the resolutions to approve
the disposal of the Company’s Nigerien uranium interests (the “Disposal”)
and the new investing strategy were approved earlier today at the general meeting
of shareholders and the Disposal has now been completed. The Company has now
become an investing company under the AIM Rules. The Company’s investing
strategy, which was approved by shareholders, is set out below.
Investment Strategy
Brinkley’s strategy is to acquire holdings in natural resources, minerals
and/or metals companies and/or assets which the Directors believe are undervalued
and where such transaction(s) has the potential to create value for Shareholders.
The Company expects to be an active investor but it will depend on the terms
of each transaction.
Brinkley will seek to acquire interests in natural resources, minerals and/or
metals projects such as (without limit) exploration permits and licences, mining
and production licences or processing and development projects, which may be
achieved through acquisitions, partnerships or joint venture arrangements. Such
investments may result in Brinkley acquiring the whole or part of a company
or project. Brinkley’s investments may take the form of equity, joint
venture debt, convertible instruments, licence rights, or other financial instruments
as the Directors deem appropriate.
The Directors believe that their broad collective experience in the areas of
natural resources, acquisitions, accounting, corporate and financial management
together with the opinion of consultant experts in the evaluation and exploitation
of natural resources, minerals or metals projects, which will assist them in
the identification and evaluation of suitable opportunities, will enable the
Company to achieve its objectives. Where the Directors consider it necessary,
internationally recognised competent persons will be commissioned to prepare
reports on the projects being considered by the Company. The Directors may undertake
the initial project assessments themselves with additional independent technical
advice as required.
There is no limit on the number of projects into which the Company may invest,
and the Company will consider possible opportunities anywhere in the World.
The Directors are currently reviewing potential investment and acquisition opportunities
in line with Brinkley’s strategy but are not, at this stage, engaged in
any due diligence exercise nor have entered nor are negotiating any firm commitment
in connection with any investments or acquisitions.
The Company will have to make an acquisition or acquisitions which constitute
a reverse takeover under the AIM Rules or otherwise implement its Investment
Strategy by 21 December 2009 failing which, the Company’s Ordinary Shares
would then be suspended from trading on AIM. If the Company’s Investment
Strategy has not been implemented by 21 June 2010 the admission to trading on
AIM of the Company’s Ordinary Shares would be cancelled and the Directors
will convene a general meeting of the Shareholders to consider whether to continue
seeking investment opportunities or to wind up the Company and distribute any
surplus cash back to Shareholders.
For further information, please contact:
Brinkley Mining Plc
Dunbar Dales, Chief Executive Officer Tel: +27 (0) 83 258 9062
Beaumont Cornish Limited (Nominated Adviser)
Michael Cornish Tel: +44 (0) 20 7628 3396